The Louisiana Department of Economic Development  (LED) is changing to put the state in a more competitive position and to move at the speed of business.

Surrounded by legislators, economic development leaders, and business stakeholders from around the state, Governor Jeff Landry signed legislation to overhaul the state’s approach to economic development and revitalize business investment and job creation throughout the state.

SB 494, known as the “Positioning Louisiana to Win” bill, modernizes the organizational structure of Louisiana Economic Development so it can better attract new businesses and more effectively support the businesses already invested in our state. The bill’s author, Sen. Beth Mizell, and House Commerce Committee Chairman Rep. Daryl Deshotel shepherded the bill through the legislature. 

The new legislation brings LED’s organizational framework in line with the best practices of other state economic development agencies such as Virginia, North and South Carolina and Georgia as highlighted in a recent Louisiana Legislative Auditor’s report. It also follows the recommendations of a study commissioned by the Committee of 100, a private nonprofit organization whose members include CEOs of leading private and public companies and Louisiana university presidents.

The new plan applies national best practices to the Louisiana Economic Development structure and operations.  It establishes a private sector-led board of eleven members to advise the agency, adopt a strategic plan, and monitor progress.  Each of the state’s eight regions will have at least one representative on the board. 

The bill signing coincided with new LED Secretary Susan B. Bourgeois’ announcement of her senior leadership team, which adds extensive private sector, economic development, and change management experience at a pivotal moment in the agency’s history.

Governor Landry said at the signing ceremony “Today we are taking the first big step toward restoring Louisiana’s position as the economic powerhouse of the South,”  “We have always had the most skilled and dedicated workers, the richest natural resources and the best location for national and international commerce in the country. Now, with the signing of this bill and the leadership of Secretary Bourgeois, we can finally take full advantage of all the things that make Louisiana so special and give our workers and their families the future they deserve, ” said the Governor. 

The Southwest Louisiana Economic Development Alliance is one of the eight regional economic development organizations in the state.  We have been assured that the regional economic development organizations ( RE-DO’s) will have input into the strategic plan that will be developed.  Each region of the state is different with strengths and assets unique to that region.  For example, the same plan for Northeast Louisiana or New Orleans won’t work for Southwest Louisiana.  Thus, a custom plan and goals for our region are necessary.

While we have been successful in the past in SWLA,  it is time to re-boot and gear up for the future.  With the state agency transforming, the SWLA Alliance is readying for new leadership and a new vision, too.  It’s an exciting time to be in Louisiana and especially Southwest Louisiana.